1. Message From Leslie
2. New Listings
3. What's Happening
4. Interest Rates
5. In the News
6. For Your Information

Conforming:
30 year fixed 0 points: 6.375%
15 year fixed 0 points: 6.125%

Jumbo:
30 year fixed 0 points: 8.250%
30 year fixed 1 point:   7.750%
15 year fixed 0 points: 7.500%
15 year fixed 1 point:   7.125%

These rates are provided by Jeff Baxter at Prosperity Mortgage and are subject to change without notice. Please contact Jeff directly for current rates at 866-859-6558 (toll-free office), 410-459-2108 (cell phone) or jeff.baxter@prosperitymortgage.com

http://www.sjbaxter.com

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Jeff's Newsletter


Economic Commentary 7/15/08

Mortgage Market in Review 7/14/08

Home Sales to Vary in Narrow Range, Then Rise in Second Half. ~National Association of Realtors®

NAR Statement on Soundness and Importance of Fannie Mae and Freddie Mac. ~National Association of Realtors®

Bethany's battered dunes nearly replenished. ~Delaware Wave

Lifeguard messages in a flag: It's all in the wave. ~Delaware Wave

Leslie Kopp or Pam Adkins
The Leslie Kopp Group
Long & Foster Realtors, Inc.
33298 South Coastal Highway
Bethany Beach, DE 19930
Office: 800-851-8997
Leslie's Cell: 302-542-3917
Pam's Cell: 302-858-7997

Email:

leslie@bestofbethany.com pam@bestofbethany.com

URL: http://www.bestofbethany.com

The first half of July saw less than half the number of single family homes go under contract than during a weak 2007. Admittedly, this is a narrow time frame and can’t be used for any longer term analysis. What is interesting, however, is that showings are quite strong. Buyers’ interest, now that pricing has substantially adjusted, seems to me to be higher than it has for some time. What is not happening often enough are the actual offers that turn into sales.

Our market is not immune from the credit crunch. The well publicized concerns about Fannie Mae and Freddy Mac has certainly hurt confidence, as have bank failures, inflation concerns and market weakness. Buying a second home requires confidence, and capital. Mortgage money and terms are harder to get today, especially the jumbo loans many of our larger properties require. Amid uncertainty, there is hesitation, notwithstanding the availability of what in all likelihood will prove to be a good deal a few years from now. That’s what I think is going on at the moment.

7th S. 9th Street South Bethany $825,000 Excellent Oceanblock location in South Bethany. House is a tear down and not useable. Click to view: Fact Sheet

515 Jenn Mar Way, Bethany Crossing Bethany Beach $935,000 This sophisticated coastal home is perfectly designed and finished for the best of Beach Living. Conveniently located in the Town of Bethany, this cedar shingle home is close to the Beach, yet tucked in a serene setting. Click to view: Fact Sheet

209 Wellington Parkway Bethany Beach $875,000 This wonderful, wooded, Oceanside lot situated on a beautiful street in the Town of Bethany is a fantastic investment or an ideal location to build a beach home. Click to view: Fact Sheet

• July 17-26 - Delaware State Fair Harrington Fair Grounds www.delawarestatefair.com
  
  State Fair lineup
  July 17: Demolition Derby
  July 18: Brooks & Dunn with Rodney Atkins
  July 19: Three Doors Down with Staind and Hinder
  July 20: Monster Truck Show
  July 21: Carrie Underwood with Lady Antebellum
  July 22: Daughtry
  July 23: Trace Adkins with Bucky Covington
  July 24: Martina McBride with Chris Young
  July 25: Demolition Derby
  July 26: Tony Hawk's Boom Boom HuckJam
  
  IF YOU GO
  WHAT: Delaware State Fair
  WHEN: July 17-26
  WHERE: 644 Fairgrounds Road, Harrington DE
  
• Jul 20, 2008 - 2nd Grog Shop 5k run walk
  
  Part 6 Seven Sisters Four Brothers Running Walking Series 2008. For more info call 302-654-6400 or visit www.races2run.com/sisters.
  
• July 23-24, 2008 ENCORE! Cheer and Dance Championships
  
  2008 Dance Summit and Workshops
  Atlantic Sands Hotel and Conference Center Rehoboth Beach, DE
  For information contact (443)359-5183 or e-mail to info@encore-championships.com
  Visit the web site a www.encore-championships.com
  
• July 23-24, 2007 17th Annual Beach & Bay Cottage Tour
  
  See 10 outstanding homes in the Bethany Beach/Fenwick Island area. For more information contact the Friends of the South Coastal Library at 537-5828 or visit www.foscl.com/cottagetour.htm.     Article regarding the tour.
  

Information on how to be removed from this mailing If you do not want to receive this newsletter in the future, simply email me at leslie@bestofbethany.com with your email address to be removed or send me your request by mail at Long & Foster Realtors, P.O. Box 118, Bethany Beach, DE 19930.